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International Internet Law (Routledge Research in Information Technology and E-Commerce Law)
by Joanna KuleszaThis book discusses the international legal issues underlying Internet Governance and proposes an international solution to its problems. The book encompasses a wide spectrum of current debate surrounding the governance of the internet and focuses on the areas and issues which urgently require attention from the international community in order to sustain the proper functioning of the global network that forms the foundation of our information fuelled society. Among the topics discussed are international copyright protection, state responsibility for cyber-attacks (cyberterrorism), and international on-line privacy protection. Taking a comparative approach by examining how different jurisdictions such as the United States, the European Union, China and Singapore have attempted various solutions to the problem of Internet Governance, the author offers a practical solution to the problem and is a proponent of International Internet Law. Kulesza suggests that just as in the case of International Environmental Law, an Internet Framework Convention could shape the starting point for international cooperation and lead to a clear, contractual division of state jurisdictional competences. International Internet Law is of particular interest to legal scholars engaged with the current challenges in international law and international relations, as well as students of law, international relations and political science. The issues discussed in the book are also relevant to journalists and other media professionals, facing the challenges of analyzing current international developments in cyberspace.
International Intervention and Local Politics: Fragmented States And The Politics Of Scale
by Shahar Hameiri Caroline Hughes Fabio ScarpelloInternational peace- and state-building interventions have become ubiquitous in international politics since the 1990s, aiming to tackle the security problems stemming from the instability afflicting many developing states. Their frequent failures have prompted a shift towards analysing how the interaction between interveners and recipients shapes outcomes. This book critically assesses the rapidly growing literature in international relations and development studies on international intervention and local politics. It advances an innovative approach, placing the politics of scale at the core of the conflicts and compromises shaping the outcomes of international intervention. Different scales - local, national, international - privilege different interests, unevenly allocating power, resources and political opportunity structures. Interveners and recipients thus pursue scalar strategies and socio-political alliances that reinforce their power and marginalise rivals. This approach is harnessed towards examining three prominent case studies of international intervention - Aceh, Cambodia and Solomon Islands - with a focus on public administration reform.
International Investment and Dispute Settlement: Understanding the China–European Union Comprehensive Agreement on Investment (The Rule of Law in China and Comparative Perspectives)
by Chunlei ZhaoThis book analyzes the dispute settlement mechanisms under the EU-China Comprehensive Agreement on Investment (CAI), including the already established mechanisms for general state-to-state dispute settlement and the Mechanism to Address Differences for investment and sustainable development issues. When China and the EU, two of the biggest players in international investment, announced the completion of the China-European Union CAI negotiations, the dispute settlement system remained incomplete. While they reached an agreement on state-to-state dispute settlement, the controversial investor-state dispute settlement is subject to ongoing negotiations. This book explores the possible procedural design of investor-state dispute settlement mechanisms under the EU-China CAI, including potential proposals, issues, and solutions. In addition, this work analyzes the separation, connection, and combination of state-to-state and investor-state dispute settlement, all with a mind to ensuring the function and operation of diverse mechanisms and establishing a comprehensive system for successful investment dispute settlement. Focusing on the complete dispute settlement system under the EU-China CAI, this book will be a valuable resource for students, academics, and policymakers working in the areas of international dispute resolution, international investment law, international economic law, and comparative law.
International Investment Arbitration: Lessons from Developments in the MENA Region
by Mohamed A.M. IsmailArbitration is the most common mechanism for disputes' settlement in developing countries. Following the move to free market economies, arbitration will play an increasingly fundamental role in order to protect foreign investors in the Middle East and North African Region (MENA). This book examines the pulse and dynamics of international investment arbitration and the new era of mediation in state contracts in the region. The author explores the harmonization of international arbitration and the sensitive issue of le Contrat Administratif in Middle East civil law countries. The volume also discusses the pivotal role of international organizations such as UNCTAD and ICSID in codifying fair and prompt mechanisms for dispute settlement. Using Latin American countries as a prime example of how international legislative instruments serve international investment law principles and comparing Latin American experiences where appropriate, the book demonstrates how lessons can be learned in respect of alternative dispute resolution, international commercial arbitration and investor-states arbitration. It provides suggestions and recommendations for the future and includes useful appendices detailing recent worldwide trends, regional and international instruments in the arbitration world.
International Investment Arbitration In A Nutshell (Nutshells)
by Franco Ferrari D. Brian King Domenico Di Pietro C. Ryan Reetz Friedrich Rosenfeld Monique SassonForeign direct investment ("FDI") is a key pillar of the world's global economy. International investment law comprises the rules regarding the protection of investors engaging in FDI activities. This book summarizes the current legal regime of international investment protection and the challenges that lie ahead of it. Its ambition is to provide a concise introduction to the key substantive and procedural standards of international investment protection.
International Investment Dispute Awards: Facilitating Enforcement (Lloyd's Arbitration Law Library)
by Esra Yildiz ÜstünThis book examines how international investment arbitral awards can be facilitated. It sets out to achieve a fuller conceptualisation and theorisation of awards through a discussion of relevant issues and themes, as well as demonstrating how they can be achieved through a comparative approach that has been conceived and developed with reference to existing deficiencies in the research literature. This contribution is particularly important given the worldwide emergence of investment arbitration as a powerful form of alternative dispute resolution (ADR). The book ultimately seeks to explore and develop solutions that can be directed to an existing oversight and deficit within the international investment architecture. In considering the advantages and disadvantages of each ‘solution’, it will work towards an approach best-suited to upholding the interest of the victorious party at the enforcement stage. The enforcement of arbitral awards on a voluntary basis has proven to be insufficient, and this created a real and ongoing shortcoming that needs to be addressed. International Investment Dispute Awards: Facilitating Enforcement therefore seeks to directly influence existing practice on the part of international institutions, with the intention of helping to develop a more effective resolution. The readerships for this book will include arbitration practitioners, policy-makers (including treaty drafters), academics and postgraduate students interested in the enforcement of investment arbitral awards.
International Investment Law: A Chinese Perspective (Routledge Research in International Economic Law)
by Guiguo WangIncreasing and intensified cross-border economic exchange such as trade and investment is an important feature of globalization. In the past, a distinction could be made between capital importing and exporting countries, or host and home countries for foreign direct investment (FDI). Due to globalization, FDI is presently made by and in both developed and developing countries. Differences in political, economic and legal systems and culture are no longer obstacles for FDI, and to varying degrees the economic development of almost all countries is closely linked with the inflow of FDI. This book conducts critical assessments of aspects of current international law on FDI, focusing on cases decided by the tribunals of the International Centre for Settlement of Investment Disputes (ICSID) and other tribunals as well as decisions of annulment ad hoc committees of the ICSID. In examining such cases, Guiguo Wang takes into account the Chinese culture and China’s practice in the related areas. The book explores topics including: the development and trend of international investment law; unilateral, bilateral and multilateral mechanisms for encouraging and protecting FDIs; determination of qualified investors and investments and consent as conditions for protection; relative and absolute standards of treatment; determination of expropriation in practice; assessment of compensation for expropriation; difficulties in enforcing investment arbitral awards; and alternatives for improving the existing system. The book will be of great use and interest to scholars, practitioners and students of international investment law and international economic law, Asian law, and Chinese studies.
International Investment Law and Arbitration: Commentary, Awards and other Materials
by C. L. Lim Jean Ho Martins PaparinskisInternational investment law and arbitration is a rapidly evolving field, and can be difficult for students to acquire a firm understanding of, given the considerable number of published awards and legal writings. The first edition of this text, cited by courts in Singapore and Colombia, overcame this challenge by interweaving extracts from these arbitral decisions, treaties and scholarly works with concise, up-to-date and reliable commentary. Now fully updated and with a new chapter on arbitrators, the second edition retains this practical structure along with the carefully curated end-of-chapter questions and readings. The authors consider the new chapter an essential revision to the text, and a discussion which is indispensable to understanding the present calls for reform of investment arbitration. The coverage of the book has also been expanded, with the inclusion of over sixty new awards and judicial decisions, comprising both recent and well-established jurisprudence. This textbook will appeal to graduates studying international investment law and international arbitration, as well as being of interest to practitioners in this area.
International Investment Law and Arbitration: Commentary, Awards And Other Materials
by Chin Leng Lim Jean Ho Martins PaparinskisWhat was once a contested body of principles applied peripherally to the international settlement of expropriation disputes has been transformed and in its place now stands an important area of international disputes practice. International Investment Law and Arbitration offers a comprehensive introduction to the subject. <P><P>Presenting the facts of daily legal practice and the largely unaltered aims of the subject alongside a broad selection of key awards and original materials, historical developments are discussed in the context of the changing directions in the arbitral jurisprudence and current treaty and arbitration reform debate.<P> Key features: accessible and engaging commentary integrated throughout, end of chapter questions test reader understanding, further reading lists support and encourage exploration of the subject. Suitable for postgraduate law students studying modules on international investment arbitration, International Investment Law and Arbitration offers an indispensable introduction to the subject.<P> Accessible commentary accompanies key awards and materials.<P> Historical developments are discussed in the context of the changing directions in the arbitral jurisprudence and current treaty and arbitration reform debate.<P> Every chapter has questions to test reader understanding as well as a list of further reading to encourage exploration of the subject.
International Investment Law and Arbitration from a Latin American Perspective (International Law and the Global South)
by Nitish Monebhurrun Carolina Olarte-Bácares Marco A. Velasquez-RuizThe book brings to light how Latin American states have traditionally stood before the field of International Investment Law and Arbitration. It delves into their posture of resistance to critically examine how their perspective has gradually changed and how they have adapted and molded their investment agreements so as not to leave their position as players in the field of International Investment Law. Many Latin American states have appeared as defendants before international investment tribunals and some of these, like Venezuela, Bolivia or Ecuador, have denounced their international investment agreements. Deeming the law field as imbalanced, they have looked for alternatives to continue providing legal protection to foreign investors while protecting their right to regulate in the name of public interest. Some interesting investment agreements models, sometimes of a different ilk, have consequently flourished and have arrested the attention of those studying or working with international investment law.The main objective of this book is to critically discuss how Latin American states have accepted, resisted, or adapted themselves to international investment law and arbitration. Accordingly, the general connection between these states and international investment law are explained in an introduction which examines the general trends as per which Latin American states have offered a legal protection to foreign investments. The first part enters the merits of where international investment law and arbitration stand in some Latin American states whereby the experience of Brazil, Chile, Argentina, Venezuela, and Uruguay are discussed. The following parts explain the trends in international investment law and arbitration in Latin America. These trends are namely related to dispute settlement and governance, to the connection between investment law and human rights and finally to regionalization. In these parts, the experience of states like Brazil,Colombia, Peru, and Mexico are perused.
International Investment Law and Competition Law (European Yearbook of International Economic Law)
by Katia Fach Gómez Anastasios Gourgourinis Catharine TitiThis EYIEL special issue examines the interaction between international investment law and competition law. Although issues related to both international investment law and competition law arise regularly in international legal practice and are examined together, scholarly analysis largely treats them as parallel universes. As a result their actual and potential overlap has yet to be sufficiently explored. In this light, International Investment Law and Competition Law discusses a variety of topics at the intersection of investment and competition, including the interaction between competition-related provisions and investment protection standards in free trade agreements; investors’ anti-competitive behaviour and illegal investments; state aid schemes and foreign investors’ legitimate expectations; EU member States’ compliance with investment awards as (illegal) state aid under EU law; State-owned enterprises and competitive neutrality; and interactions between public procurement, investment and competition law.
International Investment Law and EU Law
by Marc Bungenberg Joern Griebel Steffen HindelangThe entry into force of the Lisbon Treaty entails sweeping changes with respect to foreign investment regulation. Most prominently, the Treaty on the Functioning of the European Union (TFEU) now contains in its Article 207 an explicit competence for the regulation of foreign direct investment as part of the Common Commercial Policy (CCP) chapter. With this new competence, the EU will become an important actor in the field of international investment politics and law. The new empowerment in the field of international investment law prompts a multitude of questions. This volume analyzes in depth the new "post-Lisbon situation" in the area of investment policy, provokes further discussion and offers new approaches.
International Investment Law and Gender Equality: Stabilization Clauses and Foreign Investment (Routledge Research in International Economic Law)
by Sangwani Patrick Ng’ambi Kangwa-Musole George ChisangaThis book analyses the impact that stabilization clauses have on the development of human rights and gender laws in resource rich nations.Given the fact that stabilization clauses freeze the law for as long as the contract subsists there has been debate on the negative impact stabilization clauses have on the progressive development of human rights in the host State. Firstly, the book examines the mechanisms investors utilise in protecting themselves from host State prerogatives. It then explores the theoretical basis on which stabilization clauses are applied and upheld by arbitral tribunals, and assesses how they can be drafted in a way that protects human rights, particularly in relation to gender discrimination, without forcing the resource rich nations to lose momentum in attracting foreign direct investment. Using Zambia and the Gender Equity and Equality Act of 2015 as a case study, the book explores the compatibility of the legislation with the stabilization clauses contained in the country’s Development Agreements.The book will be of interest to practitioners, scholars and students of international investment law, human rights law and contract law.
International Investment Law and Globalization: Foreign Investment, Responsibilities and Intergovernmental Organizations (Routledge Research in International Law)
by Jean-Michel MarcouxIn a context of neoliberal globalization, have the processes of elaboration and implementation of foreign investors' responsibilities by intergovernmental organizations reached the realm of legality? Using an analytical framework and a methodology that combines international law with international relations, this book provides a twofold answer to thisquestion. First, it demonstrates that the normative integration of foreign investors' responsibilities in international investment law is fragmented and consistent with the interests of the most powerful actors. Second, while using the interactional theory of international law to assess the normative character of several international instruments elaborated and implemented by intergovernmental organizations, it highlights the sense of obligation that each instrument generates. The analysis demonstrates that such a codification process is marked by relations of power and has resulted in several social norms, with relatively few legal norms.
International Investment Law and Legal Theory: Expropriation and the Fragmentation of Sources (Cambridge Studies in International and Comparative Law)
by Jörg KammerhoferExpropriation is a hotly debated issue in international investment law. This is the first study to provide a detailed analysis of its norm-theoretical dimension, setting out the theoretical foundations underlying its understanding in contemporary legal scholarship and practice. Jörg Kammerhofer combines a doctrinal discussion with a theoretical analysis of the structure of the law in this area, undertaking a novel approach that critically re-evaluates existing case-law and writings. His approach critiques the arguments for a single expropriation norm based on custom, interpretation and arbitral precedents within international investment law, drawing also on generalist international legal thought, to show that both cosmopolitan and sovereigntist arguments are largely political, not legal. This innovative work will help scholars to understand the application of theory to investment law and help specialists in the field to improve their arguments.
International Investment Law and Policy in Africa: Exploring a Human Rights Based Approach to Investment Regulation and Dispute Settlement (Routledge Research in International Economic Law)
by Fola AdelekeThis book studies the international investment law regime in Africa and provides a comprehensive analysis of the current treaty practices in Africa from global, regional and domestic perspectives. It develops a public interest regulation theory to highlight the role of investment regulation in sustainable development and the protection of human rights. In doing so, the book identifies seven factors that should be considered by arbitrators in resolving international investment disputes that affect the public interest. It considers how corporations can be held accountable through investment treaties in the absence of a global treaty on business and human rights while protecting the rights of investors and their investments. Furthermore, the book explores the current objectives and features of investor-state dispute settlement (ISDS) as well as the deficiencies and its intersection with the rule of law. It identifies alternatives for ISDS and the extent to which these alternatives address the objectives of attracting investment, depoliticise investment disputes, promote the rule of law and offer remedies to investors. These solutions are offered in relation to the protection of human rights, the promotion of sustainable development and the right of states to introduce domestic public interest regulation. Finally, the book takes a prospective stance and discusses future trends for dispute settlement and investment rulemaking in Africa.
International Investment Law and the Law of Armed Conflict (European Yearbook of International Economic Law)
by Katia Fach Gómez Anastasios Gourgourinis Catharine TitiAssessing the extent to which armed conflict impacts the obligations that states have towards foreign investors and their investments under international investment treaties requires considering a wide range of issues, many of which are systemic in nature. These include substantive and procedural topics, not only with regard to international investment law, but also concerning the law on the use of force, international humanitarian law and human rights law, the law of treaties, the law of state responsibility and the law of state succession.This volume provides an in-depth assessment of the overlap between international investment law and the law of armed conflict by charting the terrain of the multifaceted and complex relationship between these two fields of public international law, fostering debate and offering novel perspectives on the matter.
International Investment Law and the Right to Regulate: A human rights perspective (Routledge Research in International Economic Law)
by Lone Wandahl MouyalThe book considers the ways in which the international investment law regime intersects with the human rights regime, and the potential for clashes between the two legal orders. Within the human rights regime states may be obligated to regulate, including a duty to adopt regulation aiming at improving social standards and conditions of living for their population. Yet, states are increasingly confronted with the consequences of such regulation in investment disputes, where investors seek to challenge regulatory interferences for example in expropriation claims. Regulatory measures may for instance interfere with the investment by imposing conditions on investors or negatively affecting the value of the investment. As a consequence, investors increasingly seek to challenge regulatory measures in international investment arbitration on the basis of a bilateral investment treaty. This book sets out the nature and the scope of the right to regulate in current international investment law. The book examines bilateral investment treaties and ICSID arbitrations looking at the indicative parameters that are granted weight in practice in expropriation claims delimiting compensable from non-compensable regulation. The book places the potential clash between the right to regulate and international investment law within a theoretical framework which describes the stability-flexibility dilemma currently inherent within international law. Lone Wandahl Mouyal goes on to set out methods which could be employed by both BIT-negotiators and adjudicators of investment disputes, allowing states to exercise their right to regulate while at the same time providing investors with legal certainty. The book serves as a valuable tool, an added perspective, for academics as well as for practitioners dealing with aspects of international investment law.
International Investment Protection within Europe: The EU’s Assertion of Control (Routledge Research in International Economic Law)
by Julien BergerThe steadily rising number of investor-State arbitration proceedings within the EU has triggered an extensive backlash and an increased questioning of the international investment law regime by different Member States as well as the EU Commission. This has resulted in the EU’s assertion of control over the intra-EU investment regime by promoting the termination of bilateral intra-EU investment treaties (intra-EU BITs) and by opposing the jurisdiction of arbitral tribunals in intra-EU investor-State arbitration proceedings. Against the backdrop of the landmark Achmea decision of the European Court of Justice, the book offers an in depth analysis of the interplay of international investment law and the law of the European Union with regard to intra-EU investments, i.e. investments undertaken by an investor from one EU Member State within the territory of another EU Member State. It specifically analyses the conflict between the two investment protection regimes applicable within the EU with a particular emphasis on the compatibility of the international legal instruments with the law of the European Union. The book thereby addresses the more general question of the relationship between EU law and international law and offers a conceptual framework of intra-European investment protection based on the analysis of all intra-EU BITs, the Energy Charter Treaty and EU law, as well as the arbitral practice in over 180 intra-EU investor-State arbitration proceedings. Finally, the book develops possible solutions to reconcile the international legal standards of protection with the regionalized transnational law of the European Union.
International Judicial Practice on the Environment: Questions of Legitimacy (Studies on International Courts and Tribunals)
by Christina VoigtMore and more environmental cases are being heard and decided by international courts and tribunals which lack special environmental competence. This situation raises fundamental questions of legitimacy of the environmental practice of international courts. This book addresses inter alia questions of who has legal standing to bring an environmental claim before an international court, on which legal norms is the case decided and whether judges have the necessary expertise to adjudicate environmental cases of often complex nature. It analyses which challenges international courts face, which possibilities they have and which advances international judicial practice has been able to make in protecting the environment. Through the prism of legitimacy important insights emerge as to whether international courts and tribunals are fit for addressing some of the most pressing global challenges of our time.
International Judicial Review: When Should International Courts Intervene? (Studies on International Courts and Tribunals)
by Shai DothanThis book is motivated by a question: when should international courts intervene in domestic affairs? To answer this question thoroughly, the book is broken down into a series of separate inquiries: when is intervention legitimate? When can international courts identify good legal solutions? When will intervention initiate useful processes? When will it lead to good outcomes? These inquiries are answered based on reviewing judgments of international courts, strategic analysis, and empirical findings. The book outlines under which conditions intervention by international courts is recommended and evaluates the implications that international courts have on society.
International Labour Migration in the Middle East and Asia: Issues of Inclusion and Exclusion (Asia in Transition #8)
by Kwen Fee Lian Naomi Hosoda Masako IshiiThe discourse on migration outcomes in the West has largely been dominated by issues of integration, but it is more relevant to view immigration in non-Western societies in relation to practices of exclusion and inclusion. Exclusion refers to a situation in which individuals and groups are usually denied access to the goods, services, activities and resources associated with citizenship. However, this approach has been criticised in relation to gender issues, which are very relevant to the situation of migrants. The authors in this volume address this criticism. Furthermore, when framed within a North–South discourse, it may be potentially ethnocentric to assume that the experience of exclusion is cross-culturally uniform. Indeed, work on migration issues has invariably been conducted within such a discourse. The contributors go beyond this binary discourse of ‘exclusion versus inclusion’ which has dominated migration research. They examine the situation of migrants in the Middle East and Asia as one that encompasses both exclusion and inclusion, addressing related concepts of empowerment, ethnocracy, the feminisation of migration and gendered geographies of power, liberal constraint and multiculturalism, individual agency, migrant-friendly discourses, spaces of emancipation and spaces of insecurity. The book highlights current research in the Arab Gulf states, and examines multiculturalism in Asia more broadly. It will be of particular interest to students and researchers in international labour migration studies in the Middle East and Asia.
International Labour Organization and Global Social Governance
by Ulla Liukkunen Tarja HalonenThis open access book explores the role of the ILO (International Labour Organization) in building global social governance from multiple and mutually complementary perspectives. It explores the impact of this UN´s oldest agency, founded in 1919, on the transforming world of work in a global setting, providing insights into the unique history and functions of the ILO as an organization and the evolution of workers’ rights through international labour standards stemming from its regulatory mechanism.The book examines the persistent dilemma of balancing the benefits of globalization with the protection of workers. It critically assesses the challenges that emerge when international labour standards are implemented and enforced in highly diverse regulatory frameworks in international, regional, national and local contexts. The book also identifies feasible ways to achieve more inclusive labour protection, putting into perspective the tension between the economic and the social in the ILO’s second century of operation. It includes reflections on the work of the ILO World Commission on the Social Dimension of Globalisation by Tarja Halonen, who as President of Finland co-chaired the Commission with Benjamin William Mkapa, President of Tanzania.Written by distinguished experts and scholars in the fields of international labour law and international law, the book provides an insightful and in-depth analysis of the role of the ILO as an international organization devoted to decent work and social justice. It also sheds light on tripartism and its particular role in the work of the ILO, examining the challenges that a profoundly changing working life presents in terms of labour protection and social justice, and examining the transnational dimension of labour law. Lastly, the book includes a postscript by Nobel economics laureate Professor Joseph E. Stiglitz.
International Law: Cases and Materials (6th Edition)
by Lori F. Damrosch Sean D. MurphyThis classic international law casebook has been updated to cover recent case law, including the International Court s Extradite or Prosecute (Belgium v. Senegal) case, and the Supreme Court s decisions in Samantar v. Yousef (on foreign sovereign immunity) and Kiobel v. Royal Dutch Petroleum (on the Alien Tort Statute). With extraordinary range and depth, this casebook probes "hot topics" such as the Syrian civil war, the seizure of pirates, and the ICC's indictments of African leaders, all calculated to provoke engaging classroom discussions. This casebook is designed for introductory and advanced classes, with detailed readings on the structure and actors of international law and on specialized areas.
International Law
by Donald R. Rothwell Stuart Kaye Afshin Akhtarkhavari Ruth Davis Donald R. Rothwell Stuart Kaye Afshin AkhtarkhavariWhile the size of the world's fishing catch remains at a constant level, current fishing practices are placing increasing pressure on stocks, and in turn threatening the communities which rely on them. This work examines the role of international law in dealing with this crisis in world fisheries, discussing the principles of marine living resource management found in contemporary international law, and analysing the means by which those principles are implemented. The study is focused around the two principal approaches to fisheries management: the first based upon maximising the yield of particular stocks, and reflected in the content of the 1982 United Nations Convention on the Law of the Sea; and the second founded on the precautionary approach and the associated notion of risk assessment, which encourage taking into account the management of the entire ecosystem. The author explores the legal bases of these different approaches and charts their development in international law. The work makes a comparative analysis of the two systems with reference to two international conventions, operating in analogous polar environments: the Bering Sea `Doughnut Hole' Convention, designed to preserve the pollock stock in the central area of the Bering Sea; and the Convention for the Conservation of Antarctic Marine Living Resources (CCAMLR), designed to manage all the elements of the marine ecosystem of the Southern Ocean. The author concludes with a discussion of the difficulties common to both approaches in the area of compliance, and proposes a number of mechanisms by which the management of stocks could be improved.